Allspring Global Investments Holdings LLC Acquires 263,036 Shares of Abacus Life, Inc. (NASDAQ:ABL)

Allspring Global Investments Holdings LLC increased its holdings in shares of Abacus Life, Inc. (NASDAQ:ABL - Free Report) by 23.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,399,204 shares of the company's stock after buying an additional 263,036 shares during the period. Allspring Global Investments Holdings LLC owned 1.65% of Abacus Life worth $10,830,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Geneos Wealth Management Inc. bought a new stake in shares of Abacus Life during the fourth quarter worth approximately $110,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Abacus Life in the third quarter valued at approximately $614,000. Evernest Financial Advisors LLC acquired a new position in shares of Abacus Life in the third quarter valued at approximately $681,000. Geode Capital Management LLC boosted its holdings in Abacus Life by 439.6% during the third quarter. Geode Capital Management LLC now owns 171,917 shares of the company's stock worth $1,741,000 after purchasing an additional 140,054 shares during the last quarter. Finally, Royce & Associates LP boosted its holdings in Abacus Life by 35.0% during the third quarter. Royce & Associates LP now owns 297,000 shares of the company's stock worth $3,006,000 after purchasing an additional 77,000 shares during the last quarter.

Insiders Place Their Bets

In other Abacus Life news, insider Sean Mcnealy sold 75,800 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $8.00, for a total transaction of $606,400.00. Following the sale, the insider now directly owns 12,361,500 shares in the company, valued at $98,892,000. This represents a 0.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Adam Samuel Gusky acquired 6,000 shares of Abacus Life stock in a transaction on Monday, December 9th. The shares were purchased at an average price of $7.94 per share, for a total transaction of $47,640.00. Following the completion of the purchase, the director now directly owns 49,085 shares of the company's stock, valued at approximately $389,734.90. This represents a 13.93 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 18,126 shares of company stock worth $142,089 over the last ninety days. Corporate insiders own 79.20% of the company's stock.

Abacus Life Stock Performance

NASDAQ:ABL traded up $0.26 during mid-day trading on Friday, reaching $7.84. 24,193 shares of the company's stock were exchanged, compared to its average volume of 208,109. Abacus Life, Inc. has a one year low of $6.75 and a one year high of $12.65. The firm has a market capitalization of $757.17 million, a PE ratio of -43.53 and a beta of 0.14. The business's fifty day simple moving average is $7.66 and its two-hundred day simple moving average is $8.78. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29.

Analysts Set New Price Targets

Several analysts have issued reports on ABL shares. Northland Securities started coverage on shares of Abacus Life in a research report on Thursday, October 24th. They set an "outperform" rating and a $13.50 price target on the stock. B. Riley dropped their price objective on shares of Abacus Life from $17.00 to $15.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Piper Sandler reissued an "overweight" rating and issued a $13.00 price objective (up from $12.00) on shares of Abacus Life in a research report on Friday, November 8th. Finally, Northland Capmk raised shares of Abacus Life to a "strong-buy" rating in a research report on Thursday, October 24th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $14.30.

Abacus Life Company Profile

Abacus Life, Inc operates as an alternative asset manager specializing in life insurance products. It purchases life insurance policies from consumers seeking liquidity and manages policies over time via trading, holding, and/or servicing. The company was founded in 2004 and is based in Orlando, Florida.